TORONTO, ON / ACCESSWIRE / March 1, 2019 / Grid Metals Corp. (TSX.V: GRDM | USOTC: MSMGF) ("Grid" or "the Company") today announced it will be exhibiting at the 2019 Prospectors and Developers Conference in Toronto Canada. The Company will be in Booth 3312 of the Investors Exchange from Sunday March 3 to Tuesday March 5 between the hours of 10:00 am to 5 pm. On Wednesday March 6 the exhibit hours are from 9:00 am to 12:00pm. The PDAC is one of the leading conventions globally for the mining industry.
The Company is pleased to have the opportunity to review its projects with interested parties and investors amid the improving global metals markets. Highlights of Grids' portfolio are:
- The advanced stage Makwa Mayville Nickel Copper PGE Cobalt Property with a 2014 Preliminary Economic Assessment completed. (April 2014 - RPA Inc.) Grid is currently undertaking metallurgical test work aimed at increasing nickel and cobalt recovery to enhance the project economics.
- A platinum palladium resource of 206,471 ounces palladium (Indicated ) and 27,971 ounces palladium (Inferred) and 65,201 ounces platinum (Indicated and 11,188 ounces (Inferred) at Makwa Mayville (see resource chart following).
- a PGE exploration zone at Mayville (PGE Zone) with mineralization over a ~400 meter strike length (see summary of drill results attached) - a long section of the results will be posted on the Company website.
PGE Zone - Mayville Project 2011-2012 Drill Program
Hole | From (m) | To (m) | Interval (m) | Au+Pt+Pd (g/t) |
MAY-11-06 | 31.1 | 38.7 | 7.6 | 1.6 |
MAY-11-07 | 34.1 | 86.0 | 51.9 | 2.4 |
including | 55.5 | 64.6 | 9.1 | 9.5 |
MAY-11-25 | 37.0 | 60.4 | 23.4 | 1.0 |
MAY-11-26 | 26.7 | 41.8 | 15.1 | 1.1 |
MAY-11-27 | 43.3 | 114.9 | 71.6 | 1.0 |
including | 96.7 | 105.8 | 9.1 | 3.9 |
MAY-11-28 | 165.2 | 166.5 | 1.3 | 1.9 |
and | 182.0 | 185.0 | 3.0 | 0.8 |
MAY-12-31 | 61.0 | 64.0 | 3.0 | 1.0 |
and | 82.0 | 96.0 | 14.0 | 1.1 |
and | 119.0 | 132.0 | 13.0 | 0.9 |
and | 158.0 | 162.0 | 4.0 | 1.4 |
MAY-12-32 | 53.0 | 56.0 | 3.0 | 0.7 |
and | 67.0 | 71.1 | 4.1 | 0.8 |
and | 97.5 | 114.0 | 16.5 | 0.9 |
and | 117.0 | 151.0 | 34.0 | 0.4 |
MAY-12-34 | 95.0 | 96.0 | 1.0 | 1.2 |
and | 107.0 | 109.9 | 2.9 | 0.9 |
and | 116.2 | 117.0 | 0.8 | 3.0 |
MAY-12-48 | 182.0 | 194.0 | 12.0 | 0.9 |
and | 233.0 | 234.5 | 1.5 | 2.7 |
and | 254.0 | 260.0 | 6.0 | 0.6 |
MAY-12-51 | 125.8 | 128.0 | 2.2 | 0.7 |
and | 154.0 | 158.0 | 4.0 | 1.1 |
MAY-12-55 | 65.0 | 68.0 | 3.0 | 1.1 |
and | 114.0 | 120.0 | 6.0 | 1.2 |
MAY-12-55 | 254.0 | 255.0 | 1.0 | 8.2 |
Note: Widths are apparent widths not true widths.
- Claims covering the majority of the East Bull Lake Intrusion which hosts extensive palladium dominant mineralization in a contact breccia. A neighbouring Company recently announced a NI 43-101 PGE resource on claims covering part of the East Bull Intrusion adjoining the Grid East Bull Property.
- One of the largest historical lithium resources in Manitoba ( 3.95 million tons grading 1.28% Li2O) - source Manitoba Inventory card #229. The resource is historical in nature and not NI 43-101 compliant. Although Grid considers the resource relevant it does not consider the historical resource estimate as a current resource estimate and is not relying on the historical resource estimate as a current resource estimate until such time as a Qualified Person has reviewed and confirmed the data. Results of drilling and mineralogical testwork are pending.
- The Bannockburn Nickel Property near Matachewan Ontario. Bannockburn hosts the C Zone, a zone of massive sulphide nickel mineralization as well as a bulk tonnage dunite target on the Property. Bannockburn was acquired by Grid from the Canadian subsidiary of Outokumpu Mining of Finland.
Makwa Mayville Resource - November 13, 2013 RPA Inc.
Category and Deposit | Tonnes | Ni | Cu | Pt | Pd | Au | Co |
Indicated | |||||||
Makwa | 7.2 | 0.61 | 0.13 | 0.1 | 0.36 | N/A | 0.01 |
Mayville | 26.6 | 0.18 | 0.44 | 0.05 | 0.14 | 0.05 | N/A |
Total Indicated | 33.8 | 0.27 | 0.37 | 0.06 | 0.19 | N/A | N/A |
Inferred | |||||||
Makwa | 0.7 | 0.27 | 0.08 | 0.05 | 0.14 | N/A | 0.02 |
Mayville | 5.2 | 0.19 | 0.48 | 0.06 | 0.15 | 0.04 | N/A |
Total Inferred | 5.8 | 0.19 | 0.43 | 0.06 | 0.15 | N/A | N/A |
Note: Mineral resources that are not mineral reserves do not have demonstrated economic viability.
QAQC
All core samples were sent to Accurassay Laboratories in Thunder Bay, Ontario. Analysis was completed for nickel, copper, cobalt and silver using an Aqua Regia digestion followed by AAS/ICP finish. For gold, platinum and palladium, fire assay of 30g aliquots followed by combination fire assay and AAS finish was employed. Drill core is logged and split on site at the Makwa site with half the core retained and stored. Grid conducts an ongoing QA/QC program on drill core including inserting blanks, duplicates and standards at regular intervals with all sample submissions to the laboratory.
Carey Galeschuk P.Geo. is a consulting geologist to Grid and is the Qualified Person. He has supervised and approved the scientific and technical contents of this release.
To find out more about Grid Metals, please visit our website at www.gridmetalscorp.com.
On Behalf of the Board of Grid Metals Corp.
Robin Dunbar - President, CEO & Director |
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We seek safe harbour.
This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario) (together, "forward-looking statements"). Such forward-looking statements may include the Company's plans for its properties, the overall economic potential of its properties, the availability of adequate financing and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward-looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to potential political risk, uncertainty of production and capital costs estimates and the potential for unexpected costs and expenses, physical risks inherent in mining operations, metallurgical risk, currency fluctuations, fluctuations in the price of nickel, cobalt, copper and other metals, completion of economic evaluations, changes in project parameters as plans continue to be refined, the inability or failure to obtain adequate financing on a timely basis, and other risks and uncertainties, including those described in the Company's Management Discussion and Analysis for the most recent financial period and Material Change Reports filed with the Canadian Securities Administrators and available at www.sedar.com.
Neither the TSX Venture Exchange nor it Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
SOURCE: Grid Metals Corp.
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